Those who had a Bitcoin Cash (BCH) balance on the popular US-based cryptocurrency exchange Coinbase on November 15, when the cryptocurrency underwent a hard fork, are now able to withdraw their Bitcoin Satoshi’s Vision (BSV) balances from the platform.
As CryptoGlobe covered, the hard fork saw the BCH community split in two, as one side supported technological upgrades while the other was looking to further increase the block size. While one – Bitcoin Cash ABC – was supported by its development team, Bitcoin.com, and Bitmain, the other – that led to the creation of BSV – was supported by self-proclaimed Satoshi Nakamoto Craig Wright and CoinGeek.
As the hard fork saw the cryptocurrency’s blockchain split, BSV was created and users with BCH on their wallets “received” a BSV airdrop at the time. Those who held funds on Coinbase are now being given access to their corresponding BSV holdings.
In its announcement, Coinbase notes that BCH ABC retained the “Bitcoin Cash (BCH)” designation on its platform, meaning users are only able to withdraw their BSV holdings. The announcement reads:
Coinbase does not support purchases or sales of BSV, so customers cannot sell their BSV for fiat currency on Coinbase. They may send their BSV balance to an external wallet.
Other cryptocurrency wallets and exchange have already started supporting BSV withdrawals, with some adding full support or the cryptocurrency. Crypto exchange Kraken has been supporting both BCH and BSV, although it has warned that Bitcoin Satoshi’s Vision is an “extremely high risk investment,” and that its representatives are “openly hostile.”
Blockchain.com has also added “limited support” for BSV, as it allows users to view their balances in the cryptocurrency, withdraw their tokens, or exchange them for one of the four cryptos they support: BTC, BCH, ETH, and XML.
Most firms didn’t initially support the cryptocurrency as the hard fork didn’t include replay protection.
